XRP/USD: the pair attempts to grow

Current trend

This week, the pair tried to grow, like most other digital assets. The price tested 0.4882 (Murrey [5/8]), but then went down again.

XRP continues to be pressured by a lawsuit filed against Ripple by the US Securities and Exchange Commission (SEC), which threatens token trading in the USA. The asset's uncertain future forces many cryptocurrency platforms (Coinbase, Bitstamp, OKCoin, Galaxy Digital, Grayscale Investments) to refuse to support it. Yesterday, the Ripple’s head, Brad Garlinghouse, confirmed the termination of cooperation with the money transfer service MoneyGram. The companies hope to resume cooperation in the future when the disputes with the US authorities are resolved. However, Ripple's management is trying to remain optimistic, hoping for the company's continued development in other markets. Earlier, Garlinghouse said the SEC lawsuit did not cause negative consequences for the company's business in Asia. XRP liquidity continues to grow there, primarily in Japan, where the token is not recognized as a security.

Support and resistance

The price is testing 0.4882 (Murrey [5/8]), a breakout of which will give the prospect of further growth to 0.5860 (Murrey [6/8]) and 0.6420 (February highs). Consolidation of the instrument below 0.4395 (Murrey [4/8], H4) may cause a decline to 0.3906 (Murrey [4/8], the lower line of Bollinger Bands) and 0.2929 (Murrey [3/8]).

Technical indicators don't provide a clear signal: MACD histogram is at the zero line, its volumes are insignificant; Stochastic is reversing upwards.

Resistance levels: 0.4882, 0.5860, 0.6420.

Support levels: 0.4395, 0.3906, 0.2929.